Tyson Foods’ $900 Million Senior Notes Offerings

Davis Polk advised Tyson Foods, Inc. in connection with its SEC-registered offerings of $900 million aggregate principal amount of senior notes in two series, consisting of $400 million aggregate principal amount of 3.900% senior notes due 2023 and $500 million aggregate principal amount of 5.100% senior notes due 2048.

The net proceeds from the offerings were approximately $888.5 million, which Tyson Foods intends to use to use for repayment of amounts outstanding under its term loan.

Tyson Foods, with headquarters in Springdale, Arkansas, is one of the world’s largest food companies and a recognized leader in protein with brands such as Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair.

The Davis Polk capital markets team included partners Richard D. Truesdell Jr. (Picture) and Derek Dostal and associates Jennifer Ying Lan and Angela Park. The credit team included partner Joseph P. Hadley. The tax team included partner William A. Curran and associate Anne E. McGinnis. Associate Matthew R. Silver provided Investment Company Act of 1940 advice. Counsel Betty Moy Huber and associate Michael Comstock provided environmental advice.

Involved fees earner: Richard Truesdell Jr. – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Jennifer Ying Lan – Davis Polk & Wardwell; Angela Park – Davis Polk & Wardwell; Joseph P. Hadley – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Anne McGinnis – Davis Polk & Wardwell; Matthew Silver – Davis Polk & Wardwell; Betty Moy Huber – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Tyson Foods, Inc.;

Author: Ambrogio Visconti